Qld Govt rules out super hit
The Queensland Government has ruled out any use of public servants' superannuation to help bolster its Budget position.
After a morning of speculation that the Government might seek to utilise access to public service super to help its Budget position, the State Treasurer, Curtis Pitt, formally ruled out such a move and attributed the speculation to "opposition scaremongering".
"We made a commitment at the election to maintain a fully funded public sector superannuation scheme, unlike any other State or Territory in the nation, and that's what we'll deliver," he said.
"No money is being taken out – nothing is being 'raided'.
Pitt said the Queensland Government's defined benefit scheme was fully funded, and would remain fully funded.
"There will be no change to the entitlements of defined benefit members in [the] State Budget," he said.
"There will also be no changes to the accumulation fund, to which the majority of public servants belong."
Recommended for you
The super fund’s chief executive has confirmed he will finish his role in 2026.
New data shows millions of Australians have little idea how their super funds have performed over the past year.
Small-business advocates have warned the government’s Payday Super timeline risks chaos without more time, cost support, and fair penalties.
Insignia Financial’s Master Trust portfolio has expanded despite net outflows, as positive markets and new product initiatives drive growth.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
